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Palm oil rebounds on soyoil strength, rising supply caps gains

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By Reuters

KUALA LUMPUR: Malaysian palm oil futures jumped on Wednesday, recouping losses from the previous session as it track a surge in rival soyoil prices overnight, but forecasts of growing supply limited gains.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange rose 48 ringgit, or 1.45%, to 3,364 ringgit ($730.99) a tonne during early trade.

Palm oil may rise into 3,436-3,493 ringgit range

The contact had fallen nearly 2% on Tuesday.

Palm Oil

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